EXAMINING THE FACTORS AFFECTING THE SUCCESS OF THE BIOTECHNOLOGY FIRMS IN THE KINGDOM OF SAUDI ARABIA
DOI:
https://doi.org/10.70301/Keywords:
Biotechnology, Biotech Firms, Saudi ArabiaAbstract
Considering the advancement of science and technology on a global scale, biotechnology is one of those rapidly expanding businesses. The main objectives of the current study are to examine the role of technological, financial, entrepreneurial competency-related, human resource, government, socio-cultural, and market-related factors in the success of biotechnology firms in the Kingdom of Saudi Arabia (KSA). Biotechnology plays a crucial role in economic growth, with firms having the potential to drive innovation, job creation, and business development. However, research on biotech firm development in less developed countries remains limited despite sustainability being a key factor in competitive advantage and value creation. Studies indicate that sustainability is not yet widely integrated into most businesses. The researcher provides the conceptual framework for the studied variables and recommends testing that diagram using quantitative methods. The findings of the research will be important for managers, as well as government and other institutions.
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